There's a couple on youtube if you search gto burnout. Its not the whole clip like the one that was on this site, but its a couple individual parts from it. The idiot who actually burned out and hit someone is on there.

A friend of mine was telling me a few weeks ago that he was parked at a red light next to a Ferrari. The guy behind the steering wheel decide to show off after the light turned green and he floored it, spun the car and launched it straight on into a guard rail. All along I tried to picture it and now with these videos I can imagine very clearly. Too funny.